1 hr. ago
Bitcoin will overtake gold, and it could happen as soon as the next bull run, Binance founder Changpeng Zhao told a conference audience in Hong Kong on Thursday.
"I think Bitcoin will, for sure, become more important than gold," Zhao said during a session at Bitcoin Asia billed as "The Bitcoin Century," when asked whether the **** et would outrank bullion for sovereign holders.
The obstacle is institutional rather than technical, he argued. Large countries already have mechanisms for valuing gold and holding it, and replacing that apparatus takes years. For those countries to "shift into Bitcoin" will take time, but it will happen, he said, noting that the market value gap between gold and BTC has narrowed to roughly tenfold.
"I think Bitcoin will overtake gold pretty soon," he said, adding that, "In the next bull run, it could happen." Bitcoin, he added, is "just a much better **** et than gold," joking that long-time Bitcoin critic Peter Schiff would disagree.
Zhao told the audience he routinely advises governments to build a crypto reserve, and that his recommendation for how is "pretty simple and it's a little bit self-serving." Strip out stablecoins, take the five largest cryptocurrencies that remain, and weight them by market capitalization. That yields roughly 50% Bitcoin, 10% to 20% Ethereum, and a slice for BNB, the token of the exchange he founded.
#zhao #audience
"I think Bitcoin will, for sure, become more important than gold," Zhao said during a session at Bitcoin Asia billed as "The Bitcoin Century," when asked whether the **** et would outrank bullion for sovereign holders.
The obstacle is institutional rather than technical, he argued. Large countries already have mechanisms for valuing gold and holding it, and replacing that apparatus takes years. For those countries to "shift into Bitcoin" will take time, but it will happen, he said, noting that the market value gap between gold and BTC has narrowed to roughly tenfold.
"I think Bitcoin will overtake gold pretty soon," he said, adding that, "In the next bull run, it could happen." Bitcoin, he added, is "just a much better **** et than gold," joking that long-time Bitcoin critic Peter Schiff would disagree.
Zhao told the audience he routinely advises governments to build a crypto reserve, and that his recommendation for how is "pretty simple and it's a little bit self-serving." Strip out stablecoins, take the five largest cryptocurrencies that remain, and weight them by market capitalization. That yields roughly 50% Bitcoin, 10% to 20% Ethereum, and a slice for BNB, the token of the exchange he founded.
#zhao #audience
12 days ago
By Che Pan and Eduardo Baptista
BEIJING, Aug 13 (Reuters) - China's top foundry, Semiconductor Manufacturing International Corp, said on Friday that AI-related demand would continue to underpin orders for its production, and that it had raised prices for its most sought-after capacity.
Co-CEO Zhao Haijun said on an earnings call that SMIC raised prices following negotiations with customers in the first quarter, and that it would charge more for wafers processed in the third quarter.
"We believe we've reached top-tier industry standards in these areas," Zhao said. "Since there's still a big gap between industry-leading wafer prices and SMIC's current prices, we need to negotiate with customers for fairer pricing."
Silicon wafers serve as the base material onto which chip patterns are printed by SMIC through the fabrication process.
#raised #customers
BEIJING, Aug 13 (Reuters) - China's top foundry, Semiconductor Manufacturing International Corp, said on Friday that AI-related demand would continue to underpin orders for its production, and that it had raised prices for its most sought-after capacity.
Co-CEO Zhao Haijun said on an earnings call that SMIC raised prices following negotiations with customers in the first quarter, and that it would charge more for wafers processed in the third quarter.
"We believe we've reached top-tier industry standards in these areas," Zhao said. "Since there's still a big gap between industry-leading wafer prices and SMIC's current prices, we need to negotiate with customers for fairer pricing."
Silicon wafers serve as the base material onto which chip patterns are printed by SMIC through the fabrication process.
#raised #customers
16 days ago
Zhang Anda shocked world number three Zhao Xintong with a thrilling 6-5 victory by potting a respotted black ball in round one of the China Open.
Zhang, who was down 3-0 in frames, fought back to eventually lead 5-4.
However, last year's world champion Zhao forced a deciding frame that ended in dramatic fashion.
Zhang, ranked 19th in the world, was in control at 57-0 up, but Zhao fought back to lead with both players on the black.
The black was eventually potted by Zhang to force a respot - used as a tie-breaker when a frame ends with the scores level - with the 34-year-old prevailing.
#back #frame #anda
Zhang, who was down 3-0 in frames, fought back to eventually lead 5-4.
However, last year's world champion Zhao forced a deciding frame that ended in dramatic fashion.
Zhang, ranked 19th in the world, was in control at 57-0 up, but Zhao fought back to lead with both players on the black.
The black was eventually potted by Zhang to force a respot - used as a tie-breaker when a frame ends with the scores level - with the 34-year-old prevailing.
#back #frame #anda
25 days ago
Binance founder Changpeng Zhao (CZ) says this bear market has no shortage of money. Plenty of it is hunting for somewhere to go.
Elsewhere, Social Capital founder Chamath Palihapitiya said where he thinks it should land. Not in artificial intelligence (AI) chips.
CZ did not say where the money should go, but acknowledged that there was a lot of liquidity floating despite the bear market.
The numbers show why it is not going into crypto. Bitcoin (BTC) trades near $63,037. It is down 45% in a year. That is almost exactly half its October 6 record.
Meanwhile, the Social Capital founder Chamath Palihapitiya, a venture capitalist, entrepreneur, and investor, buys three things at once. Land, a power connection, and an empty building to hold the computers.
#capital #chamath #money
Elsewhere, Social Capital founder Chamath Palihapitiya said where he thinks it should land. Not in artificial intelligence (AI) chips.
CZ did not say where the money should go, but acknowledged that there was a lot of liquidity floating despite the bear market.
The numbers show why it is not going into crypto. Bitcoin (BTC) trades near $63,037. It is down 45% in a year. That is almost exactly half its October 6 record.
Meanwhile, the Social Capital founder Chamath Palihapitiya, a venture capitalist, entrepreneur, and investor, buys three things at once. Land, a power connection, and an empty building to hold the computers.
#capital #chamath #money
29 days ago
Binance co-founder and Canadian entrepreneur Changpeng "CZ" Zhao is promoting a new crypto passport for use across Asia.
CZ discussed the crypto passport and how it would work during a discussion at the ASEAN Tech Summit Manila 2026 held in the Philippines.
The session covered digital ******* ets, stablecoins and the future of regional finance.
More From Cryptoprowl:
MEXC Adds Five Ondo Tokenized Stocks Spanning Semiconductors to Power Infrastructure
#Binance #changpeng #ASEAN #Tech
CZ discussed the crypto passport and how it would work during a discussion at the ASEAN Tech Summit Manila 2026 held in the Philippines.
The session covered digital ******* ets, stablecoins and the future of regional finance.
More From Cryptoprowl:
MEXC Adds Five Ondo Tokenized Stocks Spanning Semiconductors to Power Infrastructure
#Binance #changpeng #ASEAN #Tech
2 months ago
BANGKOK (AP) — When China launched a ballistic missile into the South Pacific Ocean on Monday, it was a rare test of a nuclear-capable weapons system that drew international rebuke.
Arriving two years after a similar missile launch in international waters in the Pacific, the test by the People's Liberation Army caught the attention of small island nations whose leaders have increasingly urged bigger countries to stop using the vast oceanic region for power struggles. But Beijing's message was largely for just one country, experts say: the United States.
"The most important message is the PLA is becoming a powerful military with a very strong strategic nuclear capability," said Tong Zhao, a senior fellow with the Nuclear Policy Program at the Carnegie Endowment for International Peace, a think tank.
The test, launched from a nuclear-powered submarine, was a demonstration of the sea-based leg of China's nuclear triad capability, which refers to the ability to have land, sea, and air-based nuclear systems.
Further, it showed that China's military has what is called a second-strike capability, said Dominic Meagher, a research fellow at the Crawford School of Public Policy in Australia. That means even if China was attacked first, it still has the ability to strike back, because the ability to fire could be anywhere, in the ocean or on land.
Arriving two years after a similar missile launch in international waters in the Pacific, the test by the People's Liberation Army caught the attention of small island nations whose leaders have increasingly urged bigger countries to stop using the vast oceanic region for power struggles. But Beijing's message was largely for just one country, experts say: the United States.
"The most important message is the PLA is becoming a powerful military with a very strong strategic nuclear capability," said Tong Zhao, a senior fellow with the Nuclear Policy Program at the Carnegie Endowment for International Peace, a think tank.
The test, launched from a nuclear-powered submarine, was a demonstration of the sea-based leg of China's nuclear triad capability, which refers to the ability to have land, sea, and air-based nuclear systems.
Further, it showed that China's military has what is called a second-strike capability, said Dominic Meagher, a research fellow at the Crawford School of Public Policy in Australia. That means even if China was attacked first, it still has the ability to strike back, because the ability to fire could be anywhere, in the ocean or on land.
2 months ago
Welcome back to day 2 of the Qingdao Grand Prix for another thrilling day of World-class judo. Before the medal matches, a dazzling opening ceremony set the stage.
In attendance was International Judo Federation General Treasurer, Dr. Naser AL TAMIMI, Mr. Bian Zhiliang, Honorary Vice President of International Judo Federation, Founder and Chair of the Board of Taishan Sports Industry Group, Mr Lin Chun, Deputy Director General of Shandong Administration of Sports and Mr Yue Yan, Vice President and Secretary General of Chinese Judo ******* ociation.
Narumi TANIOKA faced Jisu KIM in the -63kg final where an exciting Golden Score would decide the top spot on the podium. A yuko from a hold down secured TANIOKA the gold.
Qingdao Municipal People's Government Vice Mayor Mr ZHAO Shengcun awarded the medals.
At -73kg, it was Tatsuki ISHIHARA with this stand out moment from the preliminaries claiming his first Grand Prix gold in Qingdao!
In attendance was International Judo Federation General Treasurer, Dr. Naser AL TAMIMI, Mr. Bian Zhiliang, Honorary Vice President of International Judo Federation, Founder and Chair of the Board of Taishan Sports Industry Group, Mr Lin Chun, Deputy Director General of Shandong Administration of Sports and Mr Yue Yan, Vice President and Secretary General of Chinese Judo ******* ociation.
Narumi TANIOKA faced Jisu KIM in the -63kg final where an exciting Golden Score would decide the top spot on the podium. A yuko from a hold down secured TANIOKA the gold.
Qingdao Municipal People's Government Vice Mayor Mr ZHAO Shengcun awarded the medals.
At -73kg, it was Tatsuki ISHIHARA with this stand out moment from the preliminaries claiming his first Grand Prix gold in Qingdao!
3 months ago
Odessa A'zion is a hugger. The 25-year-old springs from a sofa on the rooftop terrace of the Chopard Suite at the Hôtel Martinez for a welcome embrace amid a dizzying 24 hours at the Cannes Film Festival. The night before, A'zion made her Cannes debut by hitting the Palais red carpet to face a crush of photographers while standing alongside actor Connor Swindells, French legend Isabelle Huppert and Chopard's Caroline Scheufele. They then made their way to Carlton Beach for a late night Chopard Trophy ceremony during which A'zion and Swindells were honored by Huppert as next-generation talents in front of Demi Moore, Chloe Zhao, Stellan Skarsgard, Ruth Negga, James Franco, Riley Keough, Nicky Hilton, Xavier Dolan and others. A'zion gave a speech — describing the experience as "really weird, crazy and surreal" — stayed for dessert and ducked out for a cameo at the hottest party in Cannes for her I Love LA co-star Jordan Firstman's directorial debut Club Kid. Then it was time for bed to get few hours of rest ahead of a full day of Chopard press to honor the occasion, accessorized by sparkling diamonds and a breathtaking view of the French Riviera over her shoulder. Post hug, The Hollywood Reporter spent 20 minutes with the Marty Supreme star to talk about her Cannes adventure, how Josh Safdie's film changed her life, what she learned from the backlash surrounding her Deep Cuts casting and why she's fiercely protective of her personal life.
What was your first thought when you woke up today?
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What was your first thought when you woke up today?
More from The Hollywood Reporter
Graydon Carter Invited Ron Howard to a Yacht Party in Cannes. It Wasn't Exactly Smooth Sailing
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4 months ago
Bitcoin Drops To 2 Cents! Revolut Users Report Massive BTC Price Glitch
A 65,900% price surge. That’s what followed the last time XRP touched the trendline it’s sitting on right now —...
Binance founder Changpeng Zhao said crypto may be entering a new phase shaped by AI agents, tokenized real-world **** ets, stablecoin...
The heaviest resistance sitting above Bitcoin’s current price isn’t a round number or a chart pattern — it’s the break-even...
https://www.newsbtc.com/ne...
A 65,900% price surge. That’s what followed the last time XRP touched the trendline it’s sitting on right now —...
Binance founder Changpeng Zhao said crypto may be entering a new phase shaped by AI agents, tokenized real-world **** ets, stablecoin...
The heaviest resistance sitting above Bitcoin’s current price isn’t a round number or a chart pattern — it’s the break-even...
https://www.newsbtc.com/ne...
9 months ago
Peter Schiff engaged in a debate with CZ at Binance Blockchain Week after challenging Bitcoin’s legitimacy as a generator of real economic value.
Speaking on stage opposite Changpeng Zhao (CZ), Schiff argued that Bitcoin is a zero-sum wealth transfer rather than a productive ***** et.
Here is Schiff’s full statement as delivered during the debate:
"All Bitcoin does is enable a transfer of wealth from people who buy BTC to the people who sell it. When Bitcoin is created, there's no real wealth. We have about 20 million Bitcoin now that we didn't have 15 years ago. But we're no better off bec
Speaking on stage opposite Changpeng Zhao (CZ), Schiff argued that Bitcoin is a zero-sum wealth transfer rather than a productive ***** et.
Here is Schiff’s full statement as delivered during the debate:
"All Bitcoin does is enable a transfer of wealth from people who buy BTC to the people who sell it. When Bitcoin is created, there's no real wealth. We have about 20 million Bitcoin now that we didn't have 15 years ago. But we're no better off bec
